Week 7: Homework Saved Help Save & Exit Submit Check my work 4 The Distance Plus partnership has the following capital balances at the beginning of the current year along with respective profit and loss percentages: 10 points Tiger (40%) $ 125, 606 Phil (26%) 95, 000 Ernie (40%) 110, 606 eBook Each of the following questions should be viewed Independently. Print a. If Sergio Invests $150,000 In cash In the business for a 30 percent Interest, what journal entry is recorded? Assume that the bonus method is used. b. If Sergio Invests $140,000 In cash In the business for a 30 percent Interest, what journal entry is recorded? Assume that the bonus method is used. References c. If Sergio Invests $150,000 In cash In the business for a 30 percent Interest, what journal entry is recorded? Assume that the goodwill method is used.Required A Required B Required C If Sergio invests $150,000 in cash in the business for a 30 percent interest, what journal entry is rec method is used. (If no entry is required for a transaction/event, select "No journal entry required" in View transaction list Journal entry worksheet Record the admission of new partner under bonus method. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journalRequired A Required B Required C If Sergio invests $140,000 in cash in the business for a 30 percent interest, what journal entry is recon method is used. (If no entry is required for a transaction/event, select "No journal entry required" in th View transaction list Journal entry worksheet Record the admission of new partner under bonus method. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journalRequired A Required B Required C If Sergio invests $150,000 in cash in the business for a 30 percent interest, what journal entry is record method is used. (If no entry is required for a transaction/event, select "No journal entry required" in the View transaction list Journal entry worksheet 2 Record the entry for goodwill allocation, during the admission of a new partner. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal